Pay for College With Your 401(k)? Think Again.

Students

Pay for College With Your 401(k)? Think Again.

Pay for College With Your 401(k)? Think Again.

To say college is expensive is an understatement. The average cost of tuition at a private four-year college averages about $40,000 a year for a grand total of $160,000. In ten years that cost is expected to soar to more than $280,000 for four years, assuming an annual 5% increase. Under great pressure, more parents… Read More

Bank Regulator: Recovery Impossible Until We Solve the Housing Crisis

Mortgages

Bank Regulator: Recovery Impossible Until We Solve the Housing Crisis

Bank Regulator: Recovery Impossible Until We Solve the Housing Crisis

A leading bank regulator spoke out last week about the sorry state of the housing market. And while she tried to make it sound upbeat, Federal Reserve Board Governor Elizabeth A. Duke’s assessment made two things clear: The situation is very bad. It’s not going to get better any time soon. Among the problems? Only… Read More

Can Medical Debts Prevent You From Getting a Job?

Managing Debt

Can Medical Debts Prevent You From Getting a Job?

Can Medical Debts Prevent You From Getting a Job?

It’s perhaps one of the cruelest situations in which to find oneself: recovering from an illness or injury, or coping with a disability that involves expensive medical treatments; trying to get back to work, but unable to do so because of your medical bills. That scenario is perhaps not as far-fetched as it may sound…. Read More

Do You Know Where Your Money Goes?

Personal Finance

Do You Know Where Your Money Goes?

Do You Know Where Your Money Goes?

There’s an experiment called “The Invisible Gorilla,” where people are asked to watch a video of two teams passing a ball to one another. One team is wearing white t-shirts, while the other is wearing black t-shirts. Viewers are asked to focus on the team in white t-shirts and count the number of times the… Read More

Despite Controversy, Robo-Signing Still Going Strong

Mortgages

Despite Controversy, Robo-Signing Still Going Strong

Despite Controversy, Robo-Signing Still Going Strong

Remember the robo-signer scandal, in which major banks were accused of using forged documents to foreclose on homeowners? How about the predatory loan scandal, in which the banks were accused of using deceitful marketing to sell mortgages with illegally high interest rates and fees? You might assume that both scandals have faded into history. If… Read More

For Mortgage Servicers, a Terrible, Horrible, Very Bad Day

Mortgages

For Mortgage Servicers, a Terrible, Horrible, Very Bad Day

For Mortgage Servicers, a Terrible, Horrible, Very Bad Day

The first day of September was a rough day for companies that handle the day-to-day details of millions of American mortgages. First, the U.S. Treasury announced that two of the nation’s largest mortgage servicers are doing a poor job modifying loans for people who deserve it, and the government won’t pay the companies until they… Read More

Seven Solid Disaster Preparation Tips

Identity Theft

Seven Solid Disaster Preparation Tips

Seven Solid Disaster Preparation Tips

It’s been a couple weeks of serious natural disasters. First the big east coast earthquake, then Hurricane Irene. What’s next? Sharks raining from the heavens? Charlie Sheen gets another sitcom? It seems like anything could happen. But seriously folks… Last week, our chairman and co-founder Adam Levin discussed disaster preparedness on his radio show, The… Read More

Increasingly, Banks Competing for Consumer Loyalty

Personal Finance

Increasingly, Banks Competing for Consumer Loyalty

Increasingly, Banks Competing for Consumer Loyalty

Banks want your loyalty, and increasingly they’re willing to pay for it. Bank of America announced this week that it will begin paying its credit cardholders a 10% bonus on rewards points when they combine their cards with a savings or checking account from the bank. The announcement comes a week after Capital One said… Read More

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